- Key Changes Effective from 2025: Starting in early 2025, EU Member States can implement mandatory e-invoicing for domestic B2B and B2C transactions without prior approval from the European Commission. E-invoices must comply with the European standard (EN 16931), leaving businesses with limited time to prepare for these changes.
- Transition to E-Invoicing by 2030: From July 1, 2030, e-invoicing will become the default for issuing invoices, requiring businesses to provide structured e-invoices within 10 days of the chargeable event and to report data to national VAT authorities in real-time. Recipients must also report transactions within 5 days, with new data fields mandated for e-invoices.
- Digital Transaction-Based Reporting (DTBR) System: The DTBR will replace existing reporting systems, requiring immediate electronic transmission of invoice data for intra-EU transactions. A dual reporting mechanism will help combat VAT fraud, and domestic reporting regimes must align with the EU-wide system by 2035, ensuring compatibility and near real-time reporting
Source Grant Thornton
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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